Take physic, pomp

Trading Post (twelve grapes edition*)

Anyone want to explain to me why base metals are rallying hard today? I don’t have a clue as to why, but it’s welcome enough. Right now we have the dollar, oil, copper&co (esp nickel) and gold all rallying together. If it’s just window dressing I’ll still take it.

There are plenty of beneficiaries from this base metals move, but one that’s caught my eye is Capstone (CS.to), up 8.75% at $0.87. According to company literature, today’s copper spot is around the point that CS.to has its cash cost.

Malaga (MLG.to) putting in an end-of-year spurt. It was at 8c early yesterday, now at 15c on low volumes. I’m still watching this one…I think it’s better than the average microdot and its cash costs will tumble between now and the 1q09 report.

There be people sniffing round Vena (VEM.to) according to the Ottoscope. Only bits and pieces of volume but it’s up from that $0.12 baseline level and I’ve had more than one conversation about it since xmas. A TA pal sez the chart “looks good”; I don’t have a clue as to what that might mean, but he said it alright. DYODD, and it’s a site sponsor so keep that in mind.

Jaguar Mining (JAG) has made it to U$5. The last time I said it was good value it stood at $3.1…not so long ago, either. Yeah I know I sold it too early (at a profit, but too early..me patsy too sometimes), but it doesn’t change the call. I have this one mentally pencilled in as a takeover target. Kinross or Yanama, perhaps.

Dynasty (DMM.to) UNCH on low volumes. I’m watching to see if da boyz try plunging it again. If it goes under $2.50 I’m adding. I own. I’m very comfortable holding this stock. I love rock’n’roll. Put another dime in the jukebox baby.

My other recent long position is Cosan (CZZ) and it seems to be marking a line in the sand at $3.50. Fine by me. I’m 20% to the right side and under no pressure.

Happy new year everybody. Thanks for coming over to read the blog (that goes for the ever-increasing numbers of RSS and e-mail readers, too). It’s been a fun way to spend 2008 and I hope you keep coming back in 2009.

*A tradition that started in Spain (I think) and is popular down this way is to eat 12 grapes, one on each stroke of the 12 bells at midnight tonight

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